Nasdaq a Buy Despite Tech Woes

Last week's trading halt on the Nasdaq unnerved investors. However, a sober analysis suggests that shares offer 20% upside.

A technical glitch forced Nasdaq OMX Group to shut down trading for three hours last Thursday, its biggest mishap since May 2012, when Facebook shares debuted to botched trading. For all the negative attention these events generated, however, Nasdaq (ticker: NDAQ) shares have quietly returned 36% in a year, versus 20% for the Standard & Poor's 500 index. Shares still look cheap relative to those of...